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Intel to sell Bengaluru office and lease it back

Dated on: Saturday 24th June 2023

Intel, the American technology giant, has made the decision to sell its office space located on the Old Airport Road in Bengaluru. This move is part of their strategy to generate revenue from their real estate assets. The office space spans 250,000 square feet and the deal is expected to exceed ?450 crore. According to multiple sources familiar with the matter, the sale is likely to follow a salescum-lease model for a duration of three years, with a one-year lock-in period for the asset.

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